Industry
Intact Financial Corporation (TSX: IFC) has officially completed its $2.6-billion acquisition of AXA Canada, the country’s sixth-largest provider of home, auto and business insurance in the country. “The completion of this transaction represents a defining milestone in the history of our organization,” IFC CEO Charles Brindamour said. “The benefits of combining the knowledge, competencies and […]
By Canadian Underwriter | September 26, 2011
1 min read
Canada has a new majority government, and the challenge now is for brokers to make themselves known to the new Members of Parliament, Insurance Brokers Association of Canada (IBAC) president Dale Rempel says.Rempel succeeded IBAC past president Fraser Lyle at the IBAC annual general meeting held in Banff, Alberta on Sept. 24. In his first […]
The Ontario Superior Court of Justice has declined to import the U.S. court’s Stonewall decision into an asbestos claims case launched in Ontario, meaning insurers are not the hook for asbestos claims made against Goodyear Canada after 1986, when insurance coverage for asbestos was no longer commercially available.The so-called Stonewall principle is named after the […]
By Canadian Underwriter | September 23, 2011
2 min read
Alberta 4H Council has approved a change that requires mandatory helmets for all beginning horse riders and any horse riders born in 2000 or later (11 years and younger).The main goal of the new rule is rider safety, including an effort to reduce concussions suffered when riders are thrown from a horse.A residual affect of […]
The Canadian Council of Insurance Regulators has revised its mission statement to reflect the fact that its role is not to create harmonized laws across Canada, but rather to serve as advisors to the policy makers in the various jurisdictions across Canada.In its ‘Strategic Plan 2011 – 2014,’ the CCIR noted that during its strategic […]
The Co-operators has released a list of tips for homeowners to reduce the risk of home invasion or theft. The tips include:•Give your home the lived-in look, set automatic timers for lights and radios, for periods when no one is home, even during the day;•Don’t post your first name on mailbox or apartment buzzer, especially […]
Nova Scotia’s Utility and Review Board has granted the Facility Association permission to modify its rates and risk-classification system for miscellaneous vehicles.Miscellaneous vehicles include motorcycles, mopeds, and all-terrain and snow vehicles.The Facility Association had applied to the board in August 2011 to amend its existing rates and risk-classification for miscellaneous vehicles to include a cost […]
Crashes are the number one cause of work-related deaths in British Columbia, according to WorkSafeBC statistics. Approximately 30 workers, on average, in B.C. are killed each year while driving, and distracted driving, such as cellphone use, is a key factor in these crashes. Only 9% of drivers think that commercial drivers are better than the […]
By Canadian Underwriter | September 22, 2011
Lloyd’s of London has reduced its exposure to European government debt and pulled deposits from some of the region’s banks, reports the Wall Street Journal. “Given the uncertainty around the Euro zone, it’s only natural that we would seek to reduce any potential downside risk. As a result, we’re not holding government debt of any […]
Catlin Canada donated $17,500 to the William H. McGannon Foundation to assist students entering the insurance/risk management field of study.The official cheque was presented at the annual Risk and Insurance Management Society (RIMS) Canada conference in Ottawa, Ont.The McGannon Foundation is an initiative of RIMS Canada and was established to provide resources in the form […]
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